The Committee is responsible for assisting Management with the implementation of IT strategy approved by the Board. The roles and responsibilities of the Committee include:

1. Planning, Budgeting and Monitoring

  • The review and approval of the Bank’s IT plan and budget (short and long term).
  • The review of IT performance against plans and budgets, and recommend changes, as required.
  • The review, prioritization and approval of IT investment initiatives.
  • Establishment of a balance in overall IT investment portfolio in terms of risk, return and strategy. 

2. Ensuring Operational Excellence

  • Providing recommendations to Management on strategies for new technology and systems.
  • The review and approval of changes to IT structure, key accountabilities, and practices.
  • Ensuring project priorities and success measures are clearly defined, and effectively monitored.
  • Conducting a review of exceptions and projects on selected basis.
  • Performing service catalogue reviews for continued strategic relevance.
  • The review and approval of current and future technology architecture for the Bank.
  • Monitoring service levels, improvements and IT service delivery.
  • Assessing and improving the Bank’s overall IT competitiveness.

3. IT Risk Assurance

  • The review and approval of governance, risk and control framework.
  • Monitoring compliance with defined standards and agreed performance metrics.
  • Ensuring that vulnerability assessments of new technology are performed.
  • Reviewing and ensuring the effectiveness of the IT Risk Management and Security plan.
  • Ensuring the effectiveness of disaster recovery plans and review reports on periodic disaster recovery testing.
  • Reviewing key IT risk and security issues relevant to the Bank’s IT processes / systems.
  • Ensuring that the Bank complies with relevant laws and regulations.

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